Louisiana State Employees Retirement System Takes Position in Privia Health Group, Inc. $PRVA

Louisiana State Employees Retirement System bought a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 51,300 shares of the company’s stock, valued at approximately $1,055,000.

Other hedge funds also recently modified their holdings of the company. ArrowMark Colorado Holdings LLC acquired a new stake in Privia Health Group during the third quarter worth about $8,750,000. Renaissance Group LLC acquired a new position in shares of Privia Health Group in the 4th quarter valued at approximately $7,776,000. Principal Financial Group Inc. lifted its holdings in shares of Privia Health Group by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 2,787,802 shares of the company’s stock worth $66,099,000 after acquiring an additional 43,589 shares during the period. Algert Global LLC boosted its position in shares of Privia Health Group by 277.4% during the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company’s stock worth $12,059,000 after acquiring an additional 355,966 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB increased its stake in Privia Health Group by 113.0% in the third quarter. Rhenman & Partners Asset Management AB now owns 194,189 shares of the company’s stock valued at $4,835,000 after acquiring an additional 103,000 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Privia Health Group Price Performance

PRVA stock opened at $27.36 on Friday. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 171.01, a P/E/G ratio of 2.16 and a beta of 0.83. The company has a 50 day simple moving average of $23.45 and a 200 day simple moving average of $23.02. Privia Health Group, Inc. has a 1 year low of $18.77 and a 1 year high of $27.52.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.11. The firm had revenue of $603.85 million for the quarter, compared to analyst estimates of $560.99 million. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. On average, equities research analysts anticipate that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Insider Activity at Privia Health Group

In other Privia Health Group news, Director Matthew Shawn Morris sold 63,212 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $25.33, for a total value of $1,601,159.96. Following the completion of the transaction, the director directly owned 76,651 shares in the company, valued at approximately $1,941,569.83. This trade represents a 45.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 17,196 shares of Privia Health Group stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.18, for a total value of $432,995.28. Following the sale, the chief financial officer directly owned 211,462 shares in the company, valued at $5,324,613.16. The trade was a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 319,487 shares of company stock valued at $7,736,834 in the last 90 days. 5.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRVA. Evercore set a $26.00 target price on Privia Health Group in a research note on Wednesday, April 8th. Barclays decreased their price target on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Canaccord Genuity Group reduced their price objective on Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Privia Health Group has an average rating of “Moderate Buy” and a consensus price target of $31.15.

About Privia Health Group

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.